SBA Community Advantage Program Announcement<\/title>\n<\/head>\n<body>\n <div>\n \n <\/div>\n<\/body>\n<\/html>\n\n\n<\/body>\n<\/html>\n<body>\n <h1>SBA’s Swift Response to Maine’s Disaster<\/h1>\n<p>Low-interest disaster loans from the U.S. Small Business Administration (SBA) are available to businesses and residents in Maine following the announcement of a Presidential disaster declaration due to severe storms and flooding occurring on Dec. 17-21, 2023.<\/p>\n\n<h2>SBA Administrator’s Commitment<\/h2>\n<p>\u201cSBA\u2019s mission-driven team stands ready to help Maine small businesses and residents impacted by this disaster in every way possible under President Biden\u2019s disaster declaration for certain affected areas,\u201d said SBA Administrator Isabel Casillas Guzman. \u201cWe\u2019re committed to providing federal disaster loans swiftly and efficiently, with a customer-centric approach to help businesses and communities recover and rebuild.\u201d<\/p>\n\n<h2>Affected Areas and Eligibility<\/h2>\n<p>The disaster declaration covers Androscoggin, Franklin, Kennebec, Oxford, and Somerset counties in Maine, which are eligible for both Physical and Economic Injury Disaster Loans from the SBA. Small businesses and most private nonprofit organizations in the following adjacent counties are eligible to apply only for SBA Economic Injury Disaster Loans (EIDLs): Aroostook, Cumberland, Lincoln, Penobscot, Piscataquis, Sagadahoc, Waldo, and York in Maine and Carroll and Coos in New Hampshire.<\/p>\n\n<h2>Importance of Timely Application<\/h2>\n<p>Disaster survivors should not wait to settle with their insurance company before applying for a disaster loan. If a survivor does not know how much of their loss will be covered by insurance or other sources, SBA can make a low-interest disaster loan for the total loss up to its loan limits, provided the borrower agrees to use insurance proceeds to reduce or repay the loan.<\/p>\n\n<h2>Loan Details and Options<\/h2>\n<p>Businesses and private nonprofit organizations of any size may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private nonprofit organizations, the SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster.<\/p>\n\n<h2>Assistance for Homeowners and Renters<\/h2>\n<p>Disaster loans up to $500,000 are available to homeowners to repair or replace disaster-damaged or destroyed real estate. Homeowners and renters are eligible for up to $100,000 to repair or replace disaster-damaged or destroyed personal property.<\/p>\n\n<h2>Interest Rates and Terms<\/h2>\n<p>Interest rates are as low as 4% for businesses, 3.25% for nonprofit organizations, and 2.688% for homeowners and renters, with terms of up to 30 years. Interest does not begin to accrue, and monthly payments are not due, until 12 months from the date of the initial disbursement. Loan amounts and terms are set by the SBA and are based on each applicant\u2019s financial condition.<\/p>\n\n<h2>Building Resilience for the Future<\/h2>\n<p>Applicants may be eligible for a loan amount increase of up to 20% of their physical damages, as verified by the SBA for mitigation purposes. Eligible mitigation improvements may include a safe room or storm shelter, sump pump, French drain or retaining wall to help protect property and occupants from future disasters.<\/p>\n\n<h2>Encouragement for Mitigation Measures<\/h2>\n<p>\u201cThe opportunity to include measures to help prevent future damage from occurring is a significant benefit of SBA\u2019s disaster loan program,\u201d said SBA Associate Administrator Francisco Sanchez, Jr. \u201cI encourage everyone to consult their contractors and emergency management mitigation specialists for ideas and apply for an SBA disaster loan increase for funding.\u201d<\/p>\n\n<h2>Application Process and Deadlines<\/h2>\n<p>To be considered for all forms of disaster assistance, applicants should register online at <a href=\"https:\/\/www.DisasterAssistance.gov\" target=\"_blank\" rel=\"noopener\">DisasterAssistance.gov<\/a> or download the FEMA mobile app. If online or mobile access is unavailable, applicants should call the FEMA toll-free helpline at <a href=\"tel:800-621-3362\">800-621-3362<\/a>. Those who use 711-Relay or Video Relay Services should call <a href=\"tel:800-621-3362\">800-621-3362<\/a>. The filing deadline to return applications for physical property damage is April 1, 2024. The deadline to return economic injury applications is Oct. 30, 2024.<\/p>\n\n<h2>Additional Assistance and Contact Information<\/h2>\n<p>Applicants may apply online and receive additional disaster assistance information at <a href=\"https:\/\/www.sba.gov\/disaster\" target=\"_blank\" rel=\"noopener\">sba.gov\/disaster<\/a>. Applicants may also call SBA\u2019s Customer Service Center at <a href=\"tel:800-659-2955\">(800) 659-2955<\/a> or email <a href=\"mailto:disastercustomerservice@sba.gov\">disastercustomerservice@sba.gov<\/a> for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.<\/p>\n \n <p><i>Follow <a href=\"https:\/\/cogoglobal.com\/\" target=\"_blank\" rel=\"noopener\"> COGO!<\/a> For getting automatic updates of new webinars regarding funding options, and new business trainings hosted related to SBA.<\/i><\/p>\n <\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<div style=\"line-height:1.4;margin:0;padding:0;width:100%!important\">\n<div><a name=\"m_6551226819747680807_x_x_gd_top\" id=\"m_6551226819747680807x_x_gd_top\"><\/a><\/p>\n<table width=\"100%\" cellpadding=\"0\" cellspacing=\"0\" border=\"0\" align=\"center\">\n<tbody>\n<p>Low-interest disaster loans from the U.S. Small Business Administration (SBA) are available to businesses and residents in Maine following the announcement of a Presidential disaster declaration due to severe storms and flooding occurring on Dec. 17-21, 2023.<\/p>\n<h2>SBA Administrator’s Commitment<\/h2>\n<p>\u201cSBA\u2019s mission-driven team stands ready to help Maine small businesses and residents impacted by this disaster in every way possible under President Biden\u2019s disaster declaration for certain affected areas,\u201d said SBA Administrator Isabel Casillas Guzman. \u201cWe\u2019re committed to providing federal disaster loans swiftly and efficiently, with a customer-centric approach to help businesses and communities recover and rebuild.\u201d<\/p>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-5430","post","type-post","status-publish","format-standard","hentry","category-news-events"],"_links":{"self":[{"href":"https:\/\/www.mysetaside.com\/news-and-events\/wp-json\/wp\/v2\/posts\/5430","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.mysetaside.com\/news-and-events\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mysetaside.com\/news-and-events\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mysetaside.com\/news-and-events\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mysetaside.com\/news-and-events\/wp-json\/wp\/v2\/comments?post=5430"}],"version-history":[{"count":1,"href":"https:\/\/www.mysetaside.com\/news-and-events\/wp-json\/wp\/v2\/posts\/5430\/revisions"}],"predecessor-version":[{"id":5431,"href":"https:\/\/www.mysetaside.com\/news-and-events\/wp-json\/wp\/v2\/posts\/5430\/revisions\/5431"}],"wp:attachment":[{"href":"https:\/\/www.mysetaside.com\/news-and-events\/wp-json\/wp\/v2\/media?parent=5430"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mysetaside.com\/news-and-events\/wp-json\/wp\/v2\/categories?post=5430"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mysetaside.com\/news-and-events\/wp-json\/wp\/v2\/tags?post=5430"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}

\n $\"USA$ \n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/td>\n<\/tr>\n

<\/a>\n\n\n\n \n \n\n\n\n \n\n\n \n \n SBA Community Advantage Program Announcement<\/title>\n<\/head>\n<body>\n <div>\n \n <\/div>\n<\/body>\n<\/html>\n\n\n<\/body>\n<\/html>\n<body>\n <h1>SBA’s Swift Response to Maine’s Disaster<\/h1>\n<p>Low-interest disaster loans from the U.S. Small Business Administration (SBA) are available to businesses and residents in Maine following the announcement of a Presidential disaster declaration due to severe storms and flooding occurring on Dec. 17-21, 2023.<\/p>\n\n<h2>SBA Administrator’s Commitment<\/h2>\n<p>\u201cSBA\u2019s mission-driven team stands ready to help Maine small businesses and residents impacted by this disaster in every way possible under President Biden\u2019s disaster declaration for certain affected areas,\u201d said SBA Administrator Isabel Casillas Guzman. \u201cWe\u2019re committed to providing federal disaster loans swiftly and efficiently, with a customer-centric approach to help businesses and communities recover and rebuild.\u201d<\/p>\n\n<h2>Affected Areas and Eligibility<\/h2>\n<p>The disaster declaration covers Androscoggin, Franklin, Kennebec, Oxford, and Somerset counties in Maine, which are eligible for both Physical and Economic Injury Disaster Loans from the SBA. Small businesses and most private nonprofit organizations in the following adjacent counties are eligible to apply only for SBA Economic Injury Disaster Loans (EIDLs): Aroostook, Cumberland, Lincoln, Penobscot, Piscataquis, Sagadahoc, Waldo, and York in Maine and Carroll and Coos in New Hampshire.<\/p>\n\n<h2>Importance of Timely Application<\/h2>\n<p>Disaster survivors should not wait to settle with their insurance company before applying for a disaster loan. If a survivor does not know how much of their loss will be covered by insurance or other sources, SBA can make a low-interest disaster loan for the total loss up to its loan limits, provided the borrower agrees to use insurance proceeds to reduce or repay the loan.<\/p>\n\n<h2>Loan Details and Options<\/h2>\n<p>Businesses and private nonprofit organizations of any size may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private nonprofit organizations, the SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster.<\/p>\n\n<h2>Assistance for Homeowners and Renters<\/h2>\n<p>Disaster loans up to $500,000 are available to homeowners to repair or replace disaster-damaged or destroyed real estate. Homeowners and renters are eligible for up to $100,000 to repair or replace disaster-damaged or destroyed personal property.<\/p>\n\n<h2>Interest Rates and Terms<\/h2>\n<p>Interest rates are as low as 4% for businesses, 3.25% for nonprofit organizations, and 2.688% for homeowners and renters, with terms of up to 30 years. Interest does not begin to accrue, and monthly payments are not due, until 12 months from the date of the initial disbursement. Loan amounts and terms are set by the SBA and are based on each applicant\u2019s financial condition.<\/p>\n\n<h2>Building Resilience for the Future<\/h2>\n<p>Applicants may be eligible for a loan amount increase of up to 20% of their physical damages, as verified by the SBA for mitigation purposes. Eligible mitigation improvements may include a safe room or storm shelter, sump pump, French drain or retaining wall to help protect property and occupants from future disasters.<\/p>\n\n<h2>Encouragement for Mitigation Measures<\/h2>\n<p>\u201cThe opportunity to include measures to help prevent future damage from occurring is a significant benefit of SBA\u2019s disaster loan program,\u201d said SBA Associate Administrator Francisco Sanchez, Jr. \u201cI encourage everyone to consult their contractors and emergency management mitigation specialists for ideas and apply for an SBA disaster loan increase for funding.\u201d<\/p>\n\n<h2>Application Process and Deadlines<\/h2>\n<p>To be considered for all forms of disaster assistance, applicants should register online at <a href=\"https:\/\/www.DisasterAssistance.gov\" target=\"_blank\" rel=\"noopener\">DisasterAssistance.gov<\/a> or download the FEMA mobile app. If online or mobile access is unavailable, applicants should call the FEMA toll-free helpline at <a href=\"tel:800-621-3362\">800-621-3362<\/a>. Those who use 711-Relay or Video Relay Services should call <a href=\"tel:800-621-3362\">800-621-3362<\/a>. The filing deadline to return applications for physical property damage is April 1, 2024. The deadline to return economic injury applications is Oct. 30, 2024.<\/p>\n\n<h2>Additional Assistance and Contact Information<\/h2>\n<p>Applicants may apply online and receive additional disaster assistance information at <a href=\"https:\/\/www.sba.gov\/disaster\" target=\"_blank\" rel=\"noopener\">sba.gov\/disaster<\/a>. Applicants may also call SBA\u2019s Customer Service Center at <a href=\"tel:800-659-2955\">(800) 659-2955<\/a> or email <a href=\"mailto:disastercustomerservice@sba.gov\">disastercustomerservice@sba.gov<\/a> for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.<\/p>\n \n <p><i>Follow <a href=\"https:\/\/cogoglobal.com\/\" target=\"_blank\" rel=\"noopener\"> COGO!<\/a> For getting automatic updates of new webinars regarding funding options, and new business trainings hosted related to SBA.<\/i><\/p>\n <\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<div style=\"line-height:1.4;margin:0;padding:0;width:100%!important\">\n<div><a name=\"m_6551226819747680807_x_x_gd_top\" id=\"m_6551226819747680807x_x_gd_top\"><\/a><\/p>\n<table width=\"100%\" cellpadding=\"0\" cellspacing=\"0\" border=\"0\" align=\"center\">\n<tbody>\n<p>Low-interest disaster loans from the U.S. Small Business Administration (SBA) are available to businesses and residents in Maine following the announcement of a Presidential disaster declaration due to severe storms and flooding occurring on Dec. 17-21, 2023.<\/p>\n<h2>SBA Administrator’s Commitment<\/h2>\n<p>\u201cSBA\u2019s mission-driven team stands ready to help Maine small businesses and residents impacted by this disaster in every way possible under President Biden\u2019s disaster declaration for certain affected areas,\u201d said SBA Administrator Isabel Casillas Guzman. \u201cWe\u2019re committed to providing federal disaster loans swiftly and efficiently, with a customer-centric approach to help businesses and communities recover and rebuild.\u201d<\/p>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-5430","post","type-post","status-publish","format-standard","hentry","category-news-events"],"_links":{"self":[{"href":"https:\/\/www.mysetaside.com\/news-and-events\/wp-json\/wp\/v2\/posts\/5430","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.mysetaside.com\/news-and-events\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mysetaside.com\/news-and-events\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mysetaside.com\/news-and-events\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mysetaside.com\/news-and-events\/wp-json\/wp\/v2\/comments?post=5430"}],"version-history":[{"count":1,"href":"https:\/\/www.mysetaside.com\/news-and-events\/wp-json\/wp\/v2\/posts\/5430\/revisions"}],"predecessor-version":[{"id":5431,"href":"https:\/\/www.mysetaside.com\/news-and-events\/wp-json\/wp\/v2\/posts\/5430\/revisions\/5431"}],"wp:attachment":[{"href":"https:\/\/www.mysetaside.com\/news-and-events\/wp-json\/wp\/v2\/media?parent=5430"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mysetaside.com\/news-and-events\/wp-json\/wp\/v2\/categories?post=5430"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mysetaside.com\/news-and-events\/wp-json\/wp\/v2\/tags?post=5430"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}